This is where you can find out what is happening in the great state of Nevada specifically and the nation in general. You will find interesting articles and videos plus reports on what is happening with me and my campaign. You can post your suggestions, comments, and opinions here also.

Sunday, August 22, 2010

Federal mortgage aid effort struggles

Nearly half of the 1.3 million homeowners who enrolled in the Obama administration's flagship mortgage-relief program have fallen out.

The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday's report from the Treasury Department suggests the $75 billion government effort is failing to slow the tide of foreclosures in the United States, economists say.

The bailout and this mortgage-relief program have failed miserably. I ask why didn't the government use the bailout money to give vouchers the mortgage troubled people. These vouchers would be payable to the banks if the bank refinanced the loan.

This way the banks would still have received the money, but only if they refinanced the mortgage. As the mortgages were refinaced, the foreclosure rate would have been stopped or at least slowed. The people would have saved their homes.

If the government was going to give the money away, at least they should have made sure that it would accomplish something.

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About Me

Born in Cleveland, Ohio, I had a happy but poor childhood. I attended St.
Ignatius Elementary School, then went to St. Ignatius High School in Cleveland for 4 more years, and then attended John Carroll University in University Heights, Ohio.